Arkema reports positive third quarter results
Colombes, France – Supported by accelerating demand for innovative, high-performance materials, in an environment marked by strong inflation of raw materials and supply chain disruptions that are weighing on organic growth, Group EBITDA rose by a significant 54.4% year-on-year, and is well above the pre-Covid level of 2019. This performance reflects in particular the evolution in the Group’s profile towards Specialty Materials and its unique positioning to provide technological solutions that address the major challenges linked to sustainable development.
Group sales of €2.4 billion, up, at constant scope and currency, nearly 30% versus 2020 and approximately 17% versus 2019:
Accelerating demand for cutting-edge and sustainable solutions, notably in batteries, material lightweighting and design, high-performance bonding and more environmentally friendly products
Solid growth in volumes (+5.3% versus Q3’20) in an operating context marked by the shortage of an increasing number of raw materials and logistics constraints in Asia and the United States
In a context of strong raw materials and energy inflation, significant increase in selling prices (+23.8% versus Q3’20), reflecting the Group’s initiatives to adapt to the situation, as well as an improved product mix
EBITDA of €474 million, up by a strong 54.4% compared to Q3’20, and EBITDA margin of close to 20%, a record level for a third quarter:
Specialty Materials’ EBITDA up 57.1% to €421 million, with growth across all segments, and well above the pre-Covid level (+34.9% versus Q3’19)
Intermediates’ EBITDA of €74 million, benefiting from favorable market conditions that more than offset the negative scope effect related to the PMMA divestment
Adjusted net income multiplied by 2.4 at €258 million, representing €3.44 per share
Net debt of €1.255 billion (including €700 million in hybrid bonds), representing 0.8x last-twelve-months EBITDA, integrating a recurring cash flow (1) of €236 million